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00:00This suit has finally been filed. What do we know this evening that's new? We're hearing about a clerical error that her legal team is pointing out. You're right. We weren't really expecting her to start labeling her defenses this early in the case, but she did signal that to the extent there was potentially a problem with her mortgage applications on these two homes back in 2021, that there are innocent potential explanations, as you mentioned, potentially a clerical error, that it was innocence. These are just a signal of possibly how she would have defended against these claims if they'd gone through the typical procedure that she says Trump has skipped entirely by attempting to fire her. So it's really more about what Donald Trump's claims are going to be, what his defenses are going to be at this hearing tomorrow, because he's the one on the defense here. He has to show that this firing is justified and legal. Okay. So bring us to 10 a.m. tomorrow morning. What will happen in this hearing and does she need to appear? She may be there. She has certainly a reason to be. There is her lawsuit. This is her big fight, the fight for her career. Usually, plaintiffs show up at a hearing like this. It's a motion for a temporary restraining order. That's a short term order that would essentially keep her in her job for at least two weeks or so while the judge considers potentially a longer lasting injunction. But even though it would be a short term ruling, potentially that we could get tomorrow from the bench, it would be the first sign of what this judge potentially thinks about these claims, the claim being that President Trump did not have legal authority to fire her. He doesn't have authority. He doesn't have a legal cause to fire her under the Federal Reserve Act and that he didn't follow the typical procedures that should have been done, like giving notice of the allegations and having an administrative hearing instead of just firing her over a social media post.

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Cook Suggests 'Clerical Error' Was Behind Mortgage Dispute

Erik Larson discusses Federal Reserve Governor Lisa Cook’s pushback on the President’s move to ousts her from office by filing a lawsuit suing President Trump, and in the lawsuit suggesting that there was a ‘clerical error’ behind the mortgage dispute. Larson also talks about what to expect Friday morning during the emergency hearing. Erik Larson speaks with Joe Mathieu on the late edition of Bloomberg’s “Balance of Power.” (Source: Bloomberg)

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